New businesses registered in South Korea
South Korea: New businesses registered was 128,455 number in 2023. ▲ Rising
New businesses registered in South Korea, 2006–2023
Source: Entrepreneurship Database, World Bank (WB). Measured in number.
Analysis
South Korea recorded 128,455 number for new businesses registered in 2023.
The figure is down 11.0% on the previous year and up 26.7% over ten years.
Over the whole period, new businesses registered in South Korea peaked at 159,606 number in 2021 and was at its lowest, 65,016 number, in 2006.
That places South Korea 15th out of 176 countries with data for 2023, putting it in the top 10%.
The long-run direction has been consistently rising across the 18 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 74,217 number | 65,016 number | 80,288 number | 4 |
| 2010s | 112,401 number | 83,626 number | 137,591 number | 10 |
| 2020s | 146,391 number | 128,455 number | 159,606 number | 4 |
Countries ranked near South Korea
More private sector data for South Korea
- Merchandise exports 709.33 billion current US$ (2025)
- Manufactures exports 87.3% (2024)
- Food exports 1.6% (2024)
- Merchandise imports 631.89 billion current US$ (2025)
- Manufactures imports 60.1% (2024)
- Food imports 6.3% (2024)
- Merchandise trade 71.6% (2025)
- Commercial service exports 149.31 billion current US$ (2025)
- Transport services 19.5% (2025)
- Computer, communications and other services 57.4% (2025)
Frequently asked questions
- What is new businesses registered in South Korea?
- New businesses registered in South Korea was 128,455 number in 2023, according to Entrepreneurship Database, World Bank (WB).
- What is the highest new businesses registered recorded in South Korea?
- The highest recorded value was 159,606 number in 2021.
- What is the lowest new businesses registered recorded in South Korea?
- The lowest recorded value was 65,016 number in 2006.
- How does South Korea rank for new businesses registered?
- South Korea ranks 15th out of 176 countries with data for 2023.
- Is new businesses registered rising or falling in South Korea?
- Over the last ten years it is up 26.7%. The long-run trend across the full record is rising.
- Where does this South Korea data come from?
- The figures come from Entrepreneurship Database, World Bank (WB), published as part of New businesses registered (number). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 18 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
New businesses registered are the number of new limited liability corporations (or its equivalent) registered in the calendar year.